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Madison Insurance Personal Pension plan


This is a specially designed savings plan for retirement. It enables an individual to build up funds by making periodic contributions into a high yielding retirement fund.

This would focus greatly on;
Self Contribution – An individual sets up a scheme for him/herself.
  • Professionals e.g. Lawyers, doctors etc who are who practice individually
  • Self Employed individuals e.g. Shopkeepers, Drivers, Jua kali
  • Individuals moving/leaving jobs

Groups – A group of individuals interested in the scheme but the employer does not contribute.
  • Schools
  • Non-governmental organizations
  • Religious organizations.

Employer & Employee Contribution – Small & medium Enterprises where the employer and employee both contribute.
  • Schools
  • Non-governmental organizations
  • Religious organizations.

Employer sponsored scheme - Small & medium Enterprises where only the Employer contributes.
  • Schools
  • Non-governmental organizations
  • Religious organizations.


  • Tax free contribution of Ksh.10, 000 per month
  • Affordable premium of as low as Ksh.500 with no maximum limit
  • Flexible contributions can be done monthly, quarterly, half yearly, or any periods that suits ones, requirement
  • Single lump sum contribution is allowed
  • Transfers from other registered schemes are allowed; note that such transfers are tax-exempt.
  • It has an optional life cover benefit at low cost.


  • Savings made, due to the tax free contributions
  • Investment opportunity that can be enjoyed by all.
  • It is Flexible & easy to manage your policy
  • You are Protected as an individual while you invest.


1) What is a Personal Pension?
The Personal Pension is a long-term investment that aims to help you build up a fund that you can use in your retirement.

2) Who may purchase?

  • Anyone aged above 18 years.
  • Self employed individuals, e.g. doctors, lawyers, engineers and business people etc
  • Individuals without an employer’s savings or pension scheme
  • Small occupational schemes
  • Individuals’ without an employer’s savings or pension scheme,
  • Employees and contract workers who do not have an occupational scheme

3) What is the minimum monthly contribution?
The minimum monthly contribution is Ksh.1,000 per month, there is no maximum.

4) How do I make my contributions?
Money can be remitted through Salary Stop Orders, Mpesa, Bankers Order, and Direct Debit among others.

5) What are the Tax Benefits?
It's a tax efficient way for you to invest for your retirement because Kenya Revenue Authority allows you to save up to a 30% of your salary per month.This means that one will enjoy a tax deductible benefit of upto Kshs. 20,000 per month. It is important to note that the investment income from your savings is also tax exempt.

6) Can one purchase a Life cover with the Personal Pension plan?
Yes, In addition to the Pension benefit, one can purchase a life cover, of upto Kshs. 500,000/- that will offer both a critical illness benefit (25% of the sum assured) and a last expense cover of Kshs.50,000/-.

How do I get Started

  • Duly completed proposal form
  • Premium/ contribution
  • Policy fee of Kshs. 300 (one-off)
  • Copy of national Identity card
  • Bankers order/salary stop order
  • Hand written transfer instructions
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